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Pay raise: Virginia s minimum wage moved to $9 50 per hour on Saturday, with more increases in the next two years

By JOHN REID BLACKWELL Richmond Times-Dispatch Kevin Liu, co-owner of The Jasper and Carytown Cupcake, talks about how the pandemic has affected the restaurant business in Richmond, Va., and why he supports raising the minimum wage. Video by Alexa Welch Edlund/Times-Dispatch Some Virginians will be getting a pay raise, thanks to an increase to the state’s mandatory hourly minimum wage. Starting Saturday, the minimum wage goes from $7.25 per hour to $9.50 per hour — a 31% increase. It’s the first of three scheduled increases that will raise minimum pay for most non-farm jobs in Virginia to $12 per hour by 2023. And the rate is slated to go even higher — to $15 an hour — if the General Assembly approves.

Virginia s minimum wage went to $9 50 per hour on Saturday, with more increases in the next two years

BY JOHN REID BLACKWELL Richmond Times-Dispatch Some Virginians will be getting a pay raise thanks to an increase to the state s mandatory hourly minimum wage. As of May 1, the minimum wage goes from $7.25 per hour to $9.50 per hour — a 31% increase. It is the first of three scheduled increases that will raise minimum pay for most non-farm jobs in Virginia to $12 per hour by 2023.  And the rate is slated to go even higher — to $15 an hour — if the General Assembly approves. Virginia joins several other states and big cities in raising the minimum wage above the federal rate of $7.25 an hour.

Biden s $6 trillion spending dream undercut by strong Q1 GDP growth — and emerging inflation… Lumber prices are up nearly 250% – Investment Watch

Last night, President Joe Biden tried to make the case for an extra $4.1 trillion in new spending on top of his $1.9 American Rescue Plan. Today, the Bureau of Economic Analysis delivered what might constitute a crushing blow to such ambitions, even though it is clearly good news for the rest of us. On an annualized basis, the economy grew by 6.4% in the first quarter of the year basically, for the three-month period before Biden’s first round of ARP spending went into effect. This level of growth, on par with what most experts estimated, was driven by consumer confidence and business reboots as onerous government lockdown measures fade away. Driven by a marked increase in spending on goods, personal consumption expenditures soared.

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